Rolls-Royce announces job cuts

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Rolls-Royce has announced proposals to reduce the global workforce of its Defense business by just over 400. The majority of those cuts will affect Indianapolis-based employees.

The company says the reductions "are a result of the need to increase efficiency and drive further improvements in the affordability of its products and services in the current challenging market."

Rolls-Royce says it will try to avoid "compulsory redundancies wherever possible."

"Our customers are responding to an environment of reduced defense budgets and are demanding greater efficiencies. While it is never an easy decision to make reductions in our workforce, it is a sign of the increasingly competitive market in which we operate that such actions are necessary to ensure we can drive new business," said Tom Bell, Rolls-Royce President - Defense. "We are striking a balance between the need to reduce our costs and the size our business for today's market, while ensuring we retain the right mix of skills and innovation to meet future customer demands."